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since they've been largely vilified by washington. goldman, of course, down rather notably. take a look at the chicago mercantile exchange, the cme, less trading activity when the president's proposals went through. lifting off of its lows on representative frank's comments. material stocks down just as much here today, 4%, 5%, 6% here. freeport-mcmoran i hope that you saw erin burnett's interview with the head of freeport-mcmoran. good flooz them. talked about lower gold, copper production this year and china tightening their monetary policy, or talk about that has certainly been affecting them in the last few days. finally, get back to earnings in the last 24 hours or at least hopefully. how about our parent company, general electric. talk to all of my friends, the nasdaq and rick santelli at the cme and first mike huckman standing by at the nasdaq. >> thanks, bob. yes the nasdaq is down 21 points but a little bit of a flip here at the nasdaq because yesterday it was the biggest percentage loser among the dow and the s&p 500. and today it's these the smallest percentage loser. of cour
the overhang the banks and the new proposals coming out of washington. >> particularly yesterday, obama's address yesterday. you have got the responsibility fee. you've got the proposal to split the capital markets business from the lending part of the business. what are your thoughts on that? >> to me, it seems kind of coincidental that it came right arch scott brown's victory. it seems highly political in my eyes. >> you think it was just a distraction on the administration's part? my think so. >> to get the health care conversation off of the table? >> yeah and i don't think this will be easy to pass this in the legislation and out in congress. it's out on the table. it's certainly not helped the market. six days ago, you and i stood here the dow was 10722, we said this is the top right here. >> you did say that. >> and it's down 400, 500 points. >> good call, good call. what do you think, anthony? >> well, i think the right thing do is to go back to glass-steagall. what they're trying to do now is a derivative into that and tapping into a populist sentiment. they very negative thing
to the comeback in financial, but really we first begin in washington, where really things are taking center stage as far as investors are concerned. a list of wall street big names from lloyd blankfein to jamie dimon, jay mack, brian moynihan, all of those facing lawmakers today to answer questions about the root of the financial crisis. what went wrong? take you right now to washington, cnbc's david faber is live after speaking with jamie dimon earlier. david, over to you. >> reporter: thanks, maria. yeah, an interesting day here in terms of panel one of the inquiry commission into the financial crisis and of course you just named the panelists that were on that panel. went about 2 1/2 hours or some. most of it taken up by questions for lloyd blankfein, the chairman and ceo of goldman sachs. but afterwards, i did have a chance to speak with jamie dimon and we talked about an issue of course is always on people's minds, namely, compensation, as we're right in the middle or about to commence i should say bonus season for most of the big wall street firms. and i asked dimmon whether or not people s
a live picture of the debate that's happening in washington. right now we're keeping a tal leave the votes. last we saw 51 yes, 23 nos. that's according to reuters who is keeping tabs and we've got steve liesman coming up as well. >> meanwhile, maria bartiromo is in davos, switzerland, for the world economic forum. she'll be talking to some of the most influential economic minds in the world including blackstone chairman and ceo, steve schwarzman but first let's take a look at where the major indices are trading and it has been another poor day today. apart from yesterday, of course typically in this last hour, we have seen selling come in right in this final 60 minutes of trade. for the most the dow jones industrial average is down. at the nasdaq we've there a bad day for technology today on qualcomm, on motorola, disappointment on apple and i just want to talk about the levels on the s&p. importantly today we broke obvious support at 1085. we based that -- that was the base that we had, established over six weeks at the end of last year. we gap lower to 1078 and now coming back
.3 trillion of federal red ink. how can washington create job and cut spending at the same time? live from the new york stock exchange this is the final and most important hour of the trading day. >> i'm scott whopner hi, sue. >> hi, scott. i'm sue herrera filling in for maria bartiromo. the federal budget office predicting the deficit hits $1.3 trillion. peter orszag tells us what the white house is planning to do to come pat that massive deficit and fix the economy. let's look how the major indices are trading. dow jones industrial average 10,255.36, nasdaq ahead of key tech earnings up nine points 2,219.90. the s&p 500 is trading on the upside by 3.64 to 1,100.42. >> we begin with bob pisani. >> reporter: we were up earlier in the day. it is 2:00 well, a little after 3:00. we are starting to see the stocks come off their highs. the important thing last week notice stocks were down big on very heavy volume. the first two days of this week what have we seen? stocks up modestly on lighter volume. that is a change in momentum and affecting the psychology. some negatives som
. we'll take you there live to washington when it does. but first let's get to wall street see where this market here as we approach this final stretch, simon hobbs tracking today's trade on the heels of the latest jobs report. >> a very good afternoon tour, maria. fascinating to see that there is obviously disappointment here that we didn't get a better than expected jobs report that would propel the rally higher but we do see very confident on these volumes. but a normalization of the vix if you look at through what is happening there and the focus very much switching now of course to earnings season with alcoa 10:00 p.m. monday night and the preannouncements. we'll talk about u.p.s. in a moment. the indices. and we kick off with the dow jones industrial average down a quarter of a percent. within, that it's interesting that ge has -- under this television network. nasdaq compos sit slightly higher after of course recent relative weakness and the s&p trading at 1140. let's bring in the gang watching all these markets for this television network. we kick off with mary thompson, agai
of washington, with the obama attacks, if you will, and certainly some those, perhaps, concerns about mounting losses on the loans, be it, commercial or consumer? >> i think that you saw money going into the regional banks on the back the obama tax. i don't know if you will see the obama tax be anything more than headline-grabbing. i don't know that a lot of politicians will jump on that bandwagon in an election year and try to push that through. >> all right. >> i think you can play the financials on pullbacks selectively. be prepared because there are going to be under headline events. >> i understand. tim, have a good weekend. catch you soon. we have about 40 minutes to go before we close it up. the dow jones industrial average was down much more significantly than it is. >> you yes. >> still down with a triple-loss sue but 110 points or so in the nasdaq as chip stocks aresess, especially weak today. has followed suit. >> citigroup, scott, bank of america, goldman sachs, ibm and general electric -- some of the big names reporting earnings next week. >>> hi, scott cohn with the "realtime fla
's interest rate decision, a day of news impacting the nation. from wall street to washington to main street, live from the new york stock exchange, this is the final and most important hour the trading day. >> welcome to the "closing bell." i'm simon hobbs live on the floor of the new york stock exchange. a busy, busy, busy day, melissa. >> that's right. and i'm melissa francis at cnbc global headquarters. maria bartiromo's in davos, switzerland, for the economic world forum where she'll be talking to some of the most influential economic miechbtds world including george soros and bob diamond. houtmajor indices are following following the fed's 9-1 vote to keeping the interest rate's unchanged, that happened in the past hour. and right now they're up 13 points, it's better than 0.1%. take a look at how the nasdaq is trading right now, it's also to the plus side but by about half of a percentage point and the s&p 500 right now is also trading higher by better than a .25% team kicking off with bob pisani down here on the floor. >> well, we've got mr. geithner be we've got steve jobs, we've go
the potential legislation or these proposals coming out of washington as not impeding your investment strategy very much if you are overweight financials. >> that is correct. it is strategist entrance points, gave us an opportunity last week and also i think that you want to look at great names, not only within financial, name-by-name, balance sheet by balance sheet. a reem closed course investment driver kind of investment strategy. but things that are exposed to modest but global economic expansion. we're not in a v-shape economy. it is rather broad based. >> guys, i have to leave it there. i know that you were champing at the bit. quick. >> it will drive money into the united states. fuel are rally and strengthen the dollar. >> i got you. okay so tell strengthen the dollar over what sort of time frame? >> it will and the risk spread that people are talking about with the risk of corporate bonds going up, i don't see it in the market. bond prices are not falling. >> okay good last thought. catch you down the road. certainly a market ahead by 72 points. we have about 45 points to go. apple ea
.6%. >>> the biggest vote for health care reform may not ultimately originate in washington but massachusetts. with voters heading to the polls to select a new senator, a win by the republican candidate could throw a wrench into the filibuster proof majority that senator democrats currently hold and the process is creating some big moves in health care stocks today. to break down the key elements with me now, andrew pamenti, les funtlater and nbc news chief white house correspondent chuck todd. chuck, let me kick off with you. as we watch the voting come through it is all about turnout. >> it always is. the question is not how many people turn out, who does turn out. how big is the turnout among independents in massachusetts this is a swing vote of sorts, a republican cannot win in massachusetts with the support of republicans. while the energy in the republican base is very high, they need independent voters who went for obama 55-41 in the presidential in 2008 and so far polls have indicated the republican candidate in this race scott brown has been winning independents by a three to one mar
, health care. >> financials are a real question also. what we are hearing out of washington, would you invest in financials? >> yes. i differ a little bit. i think the second year of a bull market is likely to continue to emphasize the cyclicals. it is going to be a good year, but not a great year. the second year is less than the first year. we worry starting in the third year not necessarily the second year. >> we'll leave it there. great to have you on the program. sam stovall and walter todd. see you soon. >> we have about 45 minutes to go on wall street. dow jones industrial average has been under pressure for much of the day. it is down about 54 points. technology is a weak spot, the nasdaq is lower as is the s&p 500. >> when we come back, we take a ride to the j.p. morgan health care conference. glaxo smith kline ceo joins us, how his company is dealing with the cancellation of swine flu vaccine orders. >>> what should investors expect this earnings season following the disappointing results from alcoa? we will tell you which sectors could be the winners and losers in the earnin
in washington. let's check in with hampton pearson on that story. >> reporter: well, maria, this regards the securities and exchange commission, and its ongoing legal dispute with bank of america. basically, now the s.e.c. is asking to add new charges to the lawsuit dispute with the bank of america regarding merrill lynch's extraordinary losses, not being disclosed in time before the shareholders to act on the vote of the takeover. last august the s.e.c. sued bank of america per not disclosing to shareholder voting on the takeover that it intended to pay more than $3 billion in bonuses to merrill lynch employees. that they had a settlement, it was thrown out. a new trial is scheduled to begin on march 1st. bank of america, in a response to this latest request by the s.e.c., calls it an 11th-hour move, and says it will hinder its ability to prepare a defense in time for that march 1st trial. maria. >> all right, hampton, thanks very much for the angle on that. >>> meanwhile, we've got breaking news today and we will have it for the next several weeks in terms of earnings news coming out,
. this is a time to pause and reconfigure. i think yesterday's -- we love gridlock. wall street loves washington gridlock -- >> rallying then -- >> vote on gridlock. well, sell on the news. sell on the news. this is a 65 -- >> well, just on that point, last night 24 hours ago, everybody was saying now that obama lost the majority in the senate we would get a big powerful rally today and it hasn't happened, and on that point, people always slip into their interviews about regulatoryrific at the end. i wonder the degree to which we're overplaying that compared to all of the other problems that we have, partly because of the ideological standpoints of those who are making it or their clients. >> i think you're hitting on a very important point, simon. and that is, it's not always 100% that gridlock means higher markets. to me, very worrisome is credit contraction. yesterday some numbers came out. the banking industry's contracted. consumer credit has contracted. and you need that credit to continue to expand for the economy to continue growing. our belief is we're moving from recovery to actual exp
that people are taking a wait-and-see approach, waiting on washington to dictate what the policies are going to look at. >> i see. still seeing buying power in technology. >> and materials. >> what you are seeing in the financial services. >> only seen is the sell side. so our customers are getting out, lighting up positions but it's not significant. i mean they're not big players in them anyways so it's hard to gauge what my guys are doing as opposed to what steve's customers are doing but as far as tech stocks definitely seeing money going into it. >> catalyst, steve, later in the year 2010, what are the main catalysts that investors need to focus on in terms of putting money to work. >> where i get bullish, middle of the year, unless the bush tax cuts are extended i think that we're looking at higher taxes in 2011. the market's always ahead. >> yeah, looking at higher taxes we know. >> well we are but a rumor that those tax cuts are extended, so if they aren't extended, we're looking at june/july on a pullback, foreseeing higher taxes, higher corporate taxes, higher payroll taxes. >> what
Search Results 0 to 13 of about 14

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